Ecovyst (NYSE:ECVT) Updates FY 2024 Earnings Guidance

Ecovyst (NYSE:ECVTGet Free Report) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 0.450-0.630 for the period, compared to the consensus EPS estimate of 0.560. The company issued revenue guidance of $700.0 million-$740.0 million, compared to the consensus revenue estimate of $718.8 million.

Ecovyst Stock Up 1.4 %

ECVT stock opened at $6.37 on Thursday. The business’s 50-day simple moving average is $6.63 and its 200 day simple moving average is $8.16. The company has a quick ratio of 2.18, a current ratio of 2.72 and a debt-to-equity ratio of 1.19. The company has a market cap of $741.89 million, a PE ratio of 13.27, a price-to-earnings-growth ratio of 1.09 and a beta of 1.01. Ecovyst has a twelve month low of $6.02 and a twelve month high of $11.35.

Ecovyst (NYSE:ECVTGet Free Report) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). The firm had revenue of $182.80 million for the quarter, compared to the consensus estimate of $189.79 million. Ecovyst had a net margin of 8.14% and a return on equity of 7.88%. The business’s revenue for the quarter was down .7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.26 earnings per share. On average, research analysts anticipate that Ecovyst will post 0.46 earnings per share for the current year.

Analysts Set New Price Targets

ECVT has been the topic of several analyst reports. BWS Financial lowered their price target on shares of Ecovyst from $18.00 to $12.00 and set a “buy” rating on the stock in a report on Monday, August 5th. Citigroup lowered their target price on shares of Ecovyst from $13.00 to $11.00 and set a “buy” rating on the stock in a research note on Friday, July 12th. Finally, KeyCorp cut their price target on shares of Ecovyst from $13.00 to $10.00 and set an “overweight” rating for the company in a research note on Monday, August 5th.

View Our Latest Report on ECVT

Insider Activity

In other news, insider Joseph S. Koscinski bought 4,807 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was acquired at an average price of $6.26 per share, for a total transaction of $30,091.82. Following the transaction, the insider now directly owns 544,609 shares of the company’s stock, valued at $3,409,252.34. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Ecovyst news, insider Joseph S. Koscinski purchased 4,807 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were acquired at an average cost of $6.26 per share, for a total transaction of $30,091.82. Following the transaction, the insider now directly owns 544,609 shares in the company, valued at approximately $3,409,252.34. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, insider Paul Whittleston acquired 7,800 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was acquired at an average price of $6.50 per share, with a total value of $50,700.00. Following the transaction, the insider now owns 57,542 shares in the company, valued at approximately $374,023. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. 1.59% of the stock is owned by corporate insiders.

Ecovyst Company Profile

(Get Free Report)

Ecovyst Inc offers specialty catalysts and services in the United States and internationally. The company operates in two segments, Ecoservices and Advanced Materials & Catalysts. The Ecoservices segment provides sulfuric acid recycling services and end-to-end logistics for production of alkylate for refineries; and virgin sulfuric acid for mining, water treatment, and industrial applications.

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